Pearse Doherty (Donegal, Sinn Fein)
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262. To ask the Minister for Finance the number of trusts administered in the State; the number of trustees resident in the State; the number of trustees registered with revenue on the central register of beneficial ownership of trusts, in tabular form; and if he will make a statement on the matter. [13204/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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As the Deputy will be aware, Ireland is a common law jurisdiction, therefore trusts are used for a variety of purposes, many of which are of a personal nature, for example, a grandparent may create a trust for their grandchild's education. In addition, trusts in Ireland also apply inter alia to trade unions, charities, sports clubs, and student unions. Consequently, there are trusts with no filing obligations, therefore it is not possible to provide a total number of trusts and trustees, within the State.

Anti-money laundering legislation requires each EU Member State to establish a Central Register of Beneficial Ownership of Trusts (CRBOT). The purpose of the CRBOT is to help prevent money laundering and terrorist financing by improving transparency on who, ultimately, owns and controls trusts. Trustees have a legal obligation to register details of relevant Irish trusts and their beneficial owners on the CRBOT portal, which is administered by Revenue.

Statutory Instrument No. 194 of 2021 (“the SI”) transposes into Irish law the provisions of the 5th Anti-Money Laundering Directive (5AMLD) which relate to trusts. 5AMLLD provides strict requirements for specific information to be maintained by each Member State to prevent money laundering and terrorist financing across the European Union. The SI prescribes a legal obligation on the trustee to register their trust on CRBOT within 6 months of it being established and, the obligation to update this registration within 14 days of any subsequent amendment. The SI also defines trusts that should register on the CRBOT, as being an express (generally taken as low risk) trust established by deed or other declaration in writing.

Revenue has also worked to simplify the registration process for non-resident trustees and is engaged in ongoing legislative work with my Department in preparation for the subsequent 6thAnti-Money Laundering Directive (6AMLD). Further details about the CRBOT are available on the Revenue website, at www.revenue.ie/en/crbot/index.aspx.